MREI Maskapai Reasuransi Indonesia Tbk.

COMPANY REPORT : JULY 2015 As of 31 July 2015

Development Board Individual Index : 428.874
Industry Sector : Finance (8) Listed Shares : 388,343,761
Industry Sub Sector : Insurance (84) Market Capitalization : 1,941,718,805,000
261 | 1.36T | 0.03% | 97.84%

157 | 0.87T | 0.06% | 96.89%

COMPANY HISTORY SHAREHOLDERS (July 2015)

Established Date : 04-Jun-1953 1. AJB Bumiputera 76,816,535 : 19.78%
Listing Date : 04-Sep-1989 2. Coutts and Co. Ltd. Singapore 62,606,104 : 16.12%
Under Writer IPO : 3. UBS Switzerland Ag-Ubs Ag-Diamond Millenium Ltd. -204958402 30,000,000 : 7.73%
PT Merchant Investment Corporation 4. Standard Chartered Bank SG Pvb Clients Ac. 19,696,256 : 5.07%
PT Bank Pembangunan Indonesia 5. Public (<5%) 199,224,866 : 51.30%
Securities Administration Bureau :
PT Blue Chip Mulia DIVIDEND ANNOUNCEMENT
Bina Mulia Building I, 4th Fl. Bonus Cash Recording Payment
F/I
Jln. H.R. Rasuna Said Kav. 10, Jakarta 12950 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 520-1928, 1983, 1993, 1989 1989 71.00 08-Jun-90 11-Jun-90 16-Jun-90 25-Jun-90 F
Fax : (021) 520-1924 1990 108.00 14-Jun-91 17-Jun-91 22-Jun-91 29-Jun-91 F
1991 65.00 12-Jun-92 15-Jun-92 22-Jun-92 29-Jun-92 F
BOARD OF COMMISSIONERS 1992 81.00 18-Jun-93 22-Jun-93 30-Jun-93 12-Jul-93 F
1. Tjan Soen Eng 1993 1:1 18-Mar-94 21-Mar-94 28-Mar-94 28-Apr-94 B
2. Nasir Ilmullah 1993 80.00 17-Jun-94 20-Jun-94 27-Jun-94 27-Jul-94 F
3. Sarkoro Handajani *) 1994 41.00 22-Jun-95 23-Jun-95 03-Jul-95 03-Aug-95 F
*) Independent Commissioners 1995 79.00 19-Jun-96 20-Jun-96 28-Jun-96 26-Jul-96 F
1996 98.00 16-May-97 19-May-97 28-May-97 26-Jun-97 F
BOARD OF DIRECTORS 1997 102.00 04-Jun-98 05-Jun-98 15-Jun-98 14-Jul-98 F
1. Robby Loho 1998 69.00 03-Jun-99 04-Jun-99 14-Jun-99 13-Jul-99 F
2. Agus Muharam 1999 63.00 02-Jun-00 05-Jun-00 13-Jun-00 19-Jun-00 F
3. Hardjono 2000 8.00 21-Jun-01 22-Jun-01 27-Jun-01 11-Jul-01 F
4. Yanto Jayadi Wibisono 2001 25.00 03-Jul-02 04-Jul-02 09-Jul-02 23-Jul-02 F
2002 27.00 10-Jul-03 11-Jul-03 15-Jul-03 29-Jul-03 F
AUDIT COMMITTEE 2003 5:1 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
1. Sarkoro Handajani 2003 30.00 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
2. Effendi Sjamsudin Junus 2003 10 : 1 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
3. Paula Gitasari Suparman 2005 5.00 16-Jun-05 17-Jun-05 21-Jun-05 05-Jul-05
2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
CORPORATE SECRETARY 2006 10.00 21-Jun-07 22-Jun-07 26-Jun-07 10-Jun-07 F
Yanto Jayadi Wibisono 2007 15.00 19-Jun-08 18-Jun-08 23-Jun-08 07-Jul-08 F
2008 15.00 15-Jul-09 16-Jul-09 21-Jul-09 04-Aug-09 F
HEAD OFFICE 2009 18.00 17-Mar-10 18-Jun-10 22-Jun-10 06-Jul-10 F
Plaza Marein, 18th Fl. 2012 38.00 04-Jun-13 05-Jun-13 10-Jun-13 24-Jun-13 F
Jln. Jend. Sudirman Kav. 76 - 78 2014 40.00 03-Jun-15 04-Jun-15 08-Jun-15 26-Jun-15 F
Jakarta 12910
Phone : (021) 579-36588, 579-36575 ISSUED HISTORY
Fax : (021) 579-36580, 579-36581, 579-36582, 579-36583 Listing Trading
No. Type of Listing Shares Date Date
Homepage : www.marein-re.com 1. First Issue 2,000,000 04-Sep-89 04-Sep-89
Email : yanto.wibisono@marein-re.com 2. Right Issue 600,000 29-May-90 29-May-90
3. Company listing 6,500,000 23-Jul-92 23-Jul-92
4. Bonus Shares 9,100,000 16-May-94 16-May-94
5. Stock Split 18,200,000 25-Aug-97 25-Aug-97
6. Stock Split 54,600,000 08-Aug-00 08-Aug-00
7. Dividen Shares 18,200,000 01-Jul-04 01-Jul-04
8. Bonus Shares 9,100,000 01-Jul-04 01-Jul-04
9. Right Issue 197,166,666 29-Apr-05 29-Apr-05
10. Dividen Shares 55,670,588 04-Aug-09 04-Aug-09
11. Bonus Shares 17,207,272 04-Aug-09 04-Aug-09
12. Adjustment of the number of shares from revision Dividen & Bonus Shares listed share
-765 12-Jan-11 12-Jan-11
 MREI Maskapai Reasuransi Indonesia Tbk.
TRADING ACTIVITIES
Closing Price* and Trading Volume
Maskapai Reasuransi Indonesia Tbk. Closing Price Freq. Volume Value

Day
Closing Volume
Price* January 2011 - July 2015 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
6,000 40.0 Jan-11 880 455 880 6 7 5 5
Feb-11 1,100 500 550 51 921 539 15
5,250 35.0 Mar-11 770 550 700 16 1,145 655 7
Apr-11 770 530 670 34 37 25 13
May-11 660 550 640 47 423 262 16
4,500 30.0
Jun-11 670 540 630 39 511 313 12
Jul-11 860 600 800 133 2,283 1,478 10
3,750 25.0
Aug-11 810 620 620 41 413 323 9
Sep-11 630 500 510 17 13 7 6
3,000 20.0
Oct-11 690 500 690 16 32 20 8
Nov-11 890 710 770 28 2,119 1,699 14
2,250 15.0 Dec-11 770 760 760 7 301 231 6

1,500 10.0 Jan-12 800 760 760 38 421 321 12

Feb-12 810 770 780 19 83 65 9
750 5.0 Mar-12 960 780 950 29 206 182 12
Apr-12 1,100 950 1,100 44 494 480 14
May-12 1,730 1,150 1,580 191 323 432 17
Jun-12 2,000 1,410 1,620 67 86 139 12
Jan-11 Jan-12 Jan-13 Jan-14 Jan-15
Jul-12 1,690 1,620 1,670 34 592 984 12
Aug-12 1,780 1,680 1,730 52 613 1,060 11
Sep-12 1,780 1,640 1,640 157 2,725 4,659 14
Closing Price*, Jakarta Composite Index (IHSG) and Oct-12 1,730 1,620 1,620 16 883 1,447 10
Finance Index Nov-12 1,650 1,580 1,590 10 604 963 7
January 2011 - July 2015 Dec-12 1,710 1,590 1,710 28 2,511 4,036 11
1,050%
Jan-13 1,720 1,650 1,710 6 15 24 5
900% Feb-13 1,750 1,630 1,700 23 8,753 14,669 6
809.1%
Mar-13 1,640 1,520 1,640 15 5,504 8,200 5
750% Apr-13 2,000 1,600 1,840 60 7,607 12,910 15
May-13 1,850 1,750 1,850 15 332 589 8
600% Jun-13 3,500 2,100 3,500 8 5 12 3
Jul-13 3,000 2,700 3,000 7 8 23 3
Aug-13 2,600 2,350 2,350 21 128 303 4
450%
Sep-13 3,300 2,250 2,750 11 11 32 10
Oct-13 2,800 2,800 2,800 4 25 70 3
300%
Nov-13 2,750 2,750 2,750 2 6 15 2
Dec-13 2,600 2,600 2,600 4 35 91 3
150%

46.9% Jan-14 2,675 2,000 2,450 23 64 164 10

- 28.8% Feb-14 2,525 2,005 2,500 25 62 154 12
Mar-14 2,600 2,550 2,600 7 8 20 4
-150% Apr-14 2,730 2,650 2,730 16 5,848 14,630 9
Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 May-14 4,900 2,750 4,900 9 16 46 7
Jun-14 6,100 4,500 4,500 16 66 305 5
Jul-14 4,000 2,950 2,950 6 11 45 5
SHARES TRADED 2011 2012 2013 2014 Jul-15 Aug-14 - - - - - - -
Volume (Million Sh.) 8 10 22 6 39 Sep-14 - - - - - - -
Value (Billion Rp) 6 15 37 15 117 Oct-14 - - - - - - -
Frequency (Thou. X) 0.4 0.7 0.2 0.1 0.3 Nov-14 - - - - - - -
Days 121 141 67 52 58 Dec-14 - - - - - - -

Price (Rupiah) Jan-15 - - - - - - -

High 1,100 2,000 3,500 6,100 5,000 Feb-15 4,795 3,200 3,250 23 9 38 7
Low 455 760 1,520 2,000 2,180 Mar-15 3,415 2,605 2,955 32 12 41 6
Close 760 1,710 2,600 2,950 5,000 Apr-15 3,705 2,220 2,905 85 11 38 13
Close* 760 1,710 2,600 2,950 5,000 May-15 4,500 2,180 2,800 23 10 35 9
Jun-15 4,700 2,800 3,690 70 39,075 117,286 14
PER (X) 4.68 6.78 9.69 19.59 19.75 Jul-15 5,000 3,550 5,000 30 15 56 9
PER Industry (X) 6.61 6.58 17.20 27.72 20.80
PBV (X) 1.25 2.06 2.47 3.62 3.59
* Adjusted price after corporate action
 MREI Maskapai Reasuransi Indonesia Tbk.
Financial Data and Ratios Book End : December
Public Accountant : Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)

BALANCE SHEET Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Total Investment 287,466 363,104 35,441 390 460 1,375

Cash on hand and in Banks 64,597 123,643 23,007 47,932 57,417

1,100
Premium Receivables - - - - -
Reinsurance Receivables 51,753 43,817 64,165 131,184 202,267
825
Other Receivable - - - - -
Fixed Assets 20,360 19,320 18,729 18,391 17,690
550
Other Assets 10,048 10,175 4,286 5,042 4,805
Total Assets 445,083 565,528 779,760 985,401 1,251,148 275
Growth (%) 27.06% 37.88% 26.37% 26.97%
-
Claims payable - - - - - 2010 2011 2012 2013 2014

Reinsurance payables 9,791 24,518 19,581 10,295 13,747

Taxes payable 3,461 3,240 8,067 12,940 15,338
Total Liabilities 262,852 329,987 457,859 577,418 743,619 TOTAL EQUITY (Bill. Rp)
Growth (%) 25.54% 38.75% 26.11% 28.78% 508
508

Authorized Capital 90,000 90,000 90,000 90,000 90,000 408

Paid up Capital 77,669 77,669 77,669 77,669 77,669
404

322
Paid up Capital (Shares) 388 388 388 388 388
300

Par Value 200 200 200 200 200 236

Retained Earnings 95,946 148,243 15,534 322,778 423,169 197

182

Total Equity 182,230 235,540 321,901 407,984 507,529

Growth (%) 29.25% 36.66% 26.74% 24.40% 93

INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

-10

2010 2011 2012 2013 2014

Underwriting Revenues 380,694 465,334 498,512 156,158 654,188
Growth (%) 22.23% 7.13% -68.68% 318.93%

UNDERWRITING REVENUES (Bill. Rp)

Underwriting Expenses 323,809 382,782 408,732 49,601 512,432
Underwriting Income 56,885 82,552 89,780 106,558 141,756 654

22,646 23,452 31,460 351,098 45,166

654

Income from Investments

Operating Expenses 30,636 34,779 43,187 106,558 59,126 499
521
465
Income from Operating 48,895 71,225 78,054 16,791 127,795
381
Growth (%) 45.67% 9.59% -78.49% 661.09% 387

Others Income 5,236 3,947 32,740 123,349 11,952

254

156
Income before Tax 54,131 75,172 110,794 19,099 139,747
Tax 8,128 13,166 14,102 - 23,822
120

Profit for the period 46,003 62,006 96,692 104,250 115,925 -13

Growth (%) 34.79% 55.94% 7.82% 11.20% 2010 2011 2012 2013 2014

Period Attributable - - - 104,250 115,925

Comprehensive Income 46,003 63,018 98,011 100,840 115,079 PROFIT FOR THE PERIOD (Bill. Rp)
Comprehensive Attributable - - - 100,840 -
116
104
116

RATIOS Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 97

Dividend (Rp) - - 38.00 - 40.00 92

EPS (Rp) - - - 268.45 298.51

62
469.25 606.53 828.91 1,050.57 1,306.91
69

BV (Rp)
46
DAR (X) 0.59 0.58 0.59 0.59 0.59 45

DER(X) 1.44 1.40 1.42 1.42 1.47

ROA (%) 10.34 10.96 12.40 10.58 9.27 21

ROE (%) 25.24 26.32 30.04 25.55 22.84

OPM (%) 12.84 15.31 15.66 10.75 19.53
-2

2010 2011 2012 2013 2014

NPM (%) 12.08 13.32 19.40 66.76 17.72
Payout Ratio (%) - 13.40
Yield (%) - - 2.22 - -